The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2018
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Increased internet and mobile connectivity has made information easily accessible, giving consumers greater choice and the ability to make informed decisions. To remain competitive and cater to consumers, retailers are stepping up and integrating technology across their value chains. Equally important is to obtain consumer information through the omnichannel ecosystem in which retailers operate, and offer personalised and consistent shopping experiences.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Increased penetration of mobile and internet have drastically changed the way consumers access information and make purchasing decisions. Consumers spend more time researching products, making purchases and also reviewing them. This has created huge opportunity for retailers to connect with consumers even in the most remote parts of the country.
With rising competition and customers having the option of making purchases from multiple retailers, an omnichannel strategy is an obvious step but not a complete solution. Retailers have to streamline processes, better understand customers, make the purchase journey seamless, and provide customised solutions and support to ensure loyalty.
Consumers in India are looking for fast service and wish to avoid the hassle of waiting along time for their products to be delivered. Consumers are also looking for products tailored to addressing their particular requirements. Retailers are expected to become agile by leveraging technology not just to deliver products, but also to deliver relevant content to consumers to support them in their purchase journey.
Consumers are looking for personalised products and a seamless shopping experience while making purchases. Technology will help companies personalise the shopping experience by leveraging the information available. This will enable companies to provide personalised services and better market products to each unique customer.
Having an omnichannel presence will be very important for retailers in the future in order to reach out to more consumers. However, it is not enough for a retailer to have an omnichannel presence, but must also have a seamless, personalised and standardised service across all channels, including offline and online stores, in order to increase consumer loyalty.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.